US STOCKS-Tech stocks drag Wall Street lower ahead of Fed meeting

U.S. stock indexes fell on Tuesday as a selloff in technology firms ahead of the Federal Reserve’s policy meeting overshadowed upbeat results from blue-chip companies including IBM and Johnson & Johnson.

The S&P 500 index had briefly declined as much as 10.6% from its Jan. 3 closing peak, flirting with a correction for the second time this year before clawing back some lost ground in early afternoon trading.